The AUD/JPY cross drifts lower for the third successive day on Tuesday – also marking its ninth day of a negative move in the previous ten – and drops to its lowest level since June 17 during the Asian session.
AUD/JPY remains under some selling pressure for the third straight day on Tuesday. A combination of factors continues to underpin the JPY and drag spot prices lower. China ’s economic woes dent demand for the Aussie and contribute to the downfall. Spot prices slide further below the 104.00 mark in the last hour, with bears looking to extend the recent corrective decline from the highest level since May 1991 touched earlier this month.
Apart from this, the broader risk sentiment should contribute to producing short-term trading opportunities around the currency pair. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
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